Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Yuanbao Tech, a China-based cybersecurity insurance provider, has raised more than RMB100m ($15.5m) in a series B round featuring Tsinghua University-aligned TusStar, according to China Banking and Insurance News. The round was led by Citic Capital and also included engineering group China Communications Construction, electric vehicle manufacturer Nio’s Future Capital affiliate, Landstone Capital and Turing Ventures. Yuanbao closed a series A round sized at tens of millions of yuan (RMB10m = $1.5m) in August 2020 backed by TusStar, led by Hillhouse Capital Group’s GL Ventures unit and also including Raymond AMC. The August deal came seven months after a round of similar size backed by TusStar, Zhongguancun Development Edge Enterprise Investment Fund, 100Partner Ventures, Landstone Capital and KunYuan Asset Management.
IpiNovyx Bio, a US-based biopharmaceutical company focused on autoimmune and inflammatory diseases, closed a $10m seed round yesterday backed by Orange Grove Bio, the commercialisation firm that established the business…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
